In the five recently concluded mainboard initial public offerings (IPOs), D-Street investors bid a total of 2.59 lakh crore. The week-long bidding war grabbed investors as the five companies - Tata Technologies Ltd., Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd., and Indian Renewable Energy Development Agency (IREDA) Ltd - kept the IPO pulse in India's primary markets going.

Analysts highlighted that the week ending November 24 was one of the busiest weeks for the primary market in recent years, with five mainboard IPOs launching to raise a total of Rs 7,377 crore. 

''The huge appetite for equities stems from investors' confidence in India's growth story and the large universe of fast-growing, well-managed companies that are expected to deliver good profits,'' said Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt. Ltd., a mid-market investment bank.

Tata Technologies got the largest portion of the 2.5 lakh crore offers placed, with 1.56 lakh crore worth bids placed in the three-day issue. On the final day, the Tata Technologies IPO was 70 times oversubscribed.

The Tata Technologies IPO drew a lot of attention from investors because it is the first offering from the Tata Group in nearly 20 years. Tata Consultancy Services (TCS) was the Tata Group's most recent initial public offering (IPO), which debuted on the stock exchanges in 2004.

The IREDA IPO, India's first in 18 months, became the seventh most subscribed PSU IPO in the last decade. The IREDA IPO received 39 subscriptions in the issue that concluded on Thursday. During the PSU issue's bidding process, bids totaling 58,471 crore were submitted.